Yesterday, we wrote a blog post about the common misunderstandings about renters insurance. Basically, your landlord’s insurance isn’t going to protect your posessions, so it’s smart to get your own coverage. If your stuff falls victim to natural disasters, fire, or theft, you don’t want to be on your own because it’s expensive to replace all your worldly belongings!
An infographic below by Carpartment Insurance shows just how much the stuff in your apartment might be worth. Think your stuff isn’t worth much and you are low on a burglar’s list of targets? Renters, especially Gen Y renters, own lots of expensive technology, which makes their apartments pretty appealing to theives. Add up the cost of a stolen laptop, nice headphones, and a tablet, and you’ll be out a thousand dollars with a stolen backpack. And that’s not even including the nice clothes, accessories, and sports gear you might own.
The most popular items that are stolen are:
- Power tools
- Gold jewelry
According to the FBI, there’s a burglary every 15 seconds in the U.S., and the chance of an apartment getting burgled is 50% higher than for homeowners. The average break-in causes $2,137 in damages, and on average only takes 8-10 minutes for a thief to complete the job. So don’t just check that the doors are locked – make sure you’re covered under renters insurance so you’ll be able to recoup the cost of stolen items if you’ve become the victim of a burglary.